资本市场摩擦和行业属性视角下水行业股权融资成本研究进展  

Research Development of Equity Financing Cost of Water Industry from the Perspective of Capital Market Friction and Industry Attributes

作　　者：张长征[1,2] 黄德春[1,2] 马昭洁[1,2] 

机构地区：[1]河海大学商学院,江苏南京211100 [2]河海大学产业经济研究所,江苏南京211100

出　　处：《河海大学学报（哲学社会科学版）》2012年第3期71-75,92,共5页Journal of Hohai University：Philosophy and Social Sciences

基　　金：国家重大社会科学基金项目(11&ZD168);国家社会科学基金项目(11BGL088);江苏省2011年度普通高校研究生科研创新计划资助项目(CXZZ11-0456)

摘　　要：单一化融资渠道已经成为我国水行业"跨越发展"的主要障碍,实施股权融资有助于拓宽其融资渠道,发展其多元化融资。股权融资成本是企业股权融资决策的基础,也是研究股权融资问题的最好切入点,为此从资本市场摩擦和行业属性视角探讨水行业股权融资成本,能够深入水行业股权融资问题的本质。笔者通过对近年来的相关研究文献进行系统回顾和评述,试图为水行业股权融资领域研究提出一个较为符合客观现实的研究框架,并结合我国资本市场特色和水行业特性,探索我国水行业股权融资成本问题研究的路径。Simplified financing channel has become the main barrier to 'great-leap-forward development'of Chinese water industry.The implementation of equity financing contributes to expanding the financing channels and developing diversified financing.The cost of equity financing is the basis of corporate equity financing decision and the best angle of research into financing issue.Therefore,from the perspective of capital market friction and industry attributes,the paper holds that exploring the equity financing cost of water industry can help to penetrate into the nature of the issues about the equity financing cost of water industry.Based on the systematic review and comments on relevant research literature of scholars both at home and abroad in recent years,this paper tries to work out the research framework which corresponds with the objective reality.Then,combined with the characteristics of Chinese capital market and properties of water industry,it explores the research way of the issues about equity financing cost of Chinese water industry.

关 键 词：水行业 资本市场摩擦 行业属性 股权融资成本 

分 类 号：F830.9[经济管理—金融学]